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Valrico translates into “valley of gold”-and it is

Located in Hillsborough County, this Florida city is known as an excellent place to love and also work.According to Zillow, the average value of a Valrico home is $224,600. Buyers can choose from a basic single family home to an uber-luxurious triplex. The variety of apartments range from studio living spaces to five bedrooms and more spacious flats to meet the demands of a fulfilling lifestyle. Residents have easy access to doctors and healthcare providers.
Miami waterfront skyline looking east along the Miami river

Valrico is a perfect place to raise a family

It is the place for a perfect spot of golf all the year around

Valrico is a small and quiet community. Both residents and visitors enjoy the friendly and relaxing atmosphere of the city. Its strategic location in the Metro Area of Tampa Bay means that this Florida city offers a number of recreational, cultural and entertainment opportunities to people of all ages. Although Valrico is a small community, its geographical nearness to Tampa Bay makes it an attractive proposition for individuals who likes small town living and yet wants to be near conveniences available to big city dwellers. The Buckhorn Springs Golf and Country Club is one of Valrico's main attractions. Families can drive to the Lowry Park Zoo where animals can be seen participating in a number of events. If you want fishing docks and barbecue pits, then drive to Lettuce Lake Regional Park.
Miami waterfront skyline looking east along the Miami river
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Buying your Valrico home is easy

We help you to find the house of your dreams and help to finance it too

Purchasing a home can be a painful experience. A lot of it can go haywire. Miss one step and the process drags on for an interminably long time. You must know what you would like in your house. The neighborhood is extremely important. Go over a number of houses and get a fair idea of what you actually like. Do you like big yards? Or large garages?Or do you prefer a covered porch? You should get the maximum amount of facilities with as little amount of money as possible. You should buy a property that you can afford. This will help you to negotiate the price.
Underwater manatee swimming in Kings Bay, Crystal River, Florida

Common Questions About Buying a Home in Valrico

All The Answers You Need to Settle Down Sooner

Should I choose a fixed or adjustable rate?

It depends how long you expect to stay in the home. Adjustable rates are good for people who may not be in the home long, whereas fixed rates are ideal for people who are confident of settling in.

Do I need a home appraisal?

Probably—in most cases, the homebuyer must use an appraiser to evaluate the value of the home. Appraisal costs vary depending on the value of the property, as well as the state the house is in. Buyers cannot choose their own appraiser—the bank makes the decision.

What is PMI?

Private mortgage insurance (PMI) is required when a homebuyer makes a down payment of less than 20%, or when a borrower refinances with less than 20% equity in the home. PMI fees vary according to your down payment and credit score, and adds a premium to your monthly mortgage payment. Please note, PMI is tax-deductible in 2015 and 2016 for certain income brackets.

What does Loan-to-Value mean?

Loan-to-Value (LTV) is the percentage of your home’s value that your loan represents. When refinancing, the calculation is simply the loan amount divided by the appraised value. When buying a home, the LTV is found by dividing by either the purchase price or appraised amount, whichever is lower. When the LTV is less than 80%, the lender generally requires PMI.

For example:

Purchase price: $100,000
Down payment: $15,000
Loan amount: $85,000
Appraised value: $110,000
LTV: $85,000/$100,000 = 85%

What are closing costs?

Closing costs are standard fees associated with a real estate transaction. You will typically pay about 2-5% of the purchase price in closing costs—the exact amount depends on where you are buying (or refinancing), as well as number of extra fees involved in your particular transaction. Earnest charges no lender fees, so the borrower is only responsible for 3rd-party fees.

What should I consider before refinancing my mortgage?

Refinancing your home loan is an attractive option when rates are low. A simple rate and term refinance can help you lower your monthly payment and potentially eliminate your PMI premium, as long as you have built up enough equity in the home. You might also use a cash-out refinance to access some of the equity you’ve built up in the home (which may result in a higher monthly payment on your new loan).

However, keep in mind that refinancing a mortgage does involve several fees (closing costs). Before refinancing, you should calculate the ‘break-even’ point at which your refinanced loan makes up for the closing costs. If you plan to leave your home before this time, it’s better to stay with your current mortgage.

Knowledge Is (Buying) Power

Further Resources from the Earnest Blog

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The intelligent home loan

When it comes to finding the right home loan, Earnest works hard to ensure that the process pain-free. We use an industry-leading and intuitive online-only application (meaning most times no scanner or fax machine required), a 5-star client service team, and a unique rolling pre-approval that stays current while you track down that perfect home. At Earnest, the home loan process is like no other.